Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1887-02-12
RrvrRsloNARY LIFE POLICY.

Before insuring elsewhere your
attention is invited to careful per
usal of the exceptional advantages
of reversionary life insurance as fur
nished by the Equitable Life Assoc
citation of West Va
The hi-monthiy rates formulat-
cd are in harmony with the standard
Of rates recommended By the con-
vention Of Mutual Benefit life As
sociations of America" said convcn-
ton being composed of actuaries
and representative men OF leading
assessment companies in the United
States. The sufiiciency Of these
rates, therefore, is unquestionable.
In constructing the same the Asso-
citation has been governed by indis-
putablc facts as follows:
IT, THAT man is mortal, and that
the inevitable decline of human life
cannot be neutralized by adding
more lives"
| (2.) "That in order to pay out a
certain sum at the death of every
member, the aggregate amount must
also be paid in by the members
(3.) "That as some men die before
they have paid as much as their ben
eficiaries receive, others must make
good that deficiency"
(4.) "That this deficiency can be
made good only in two ways: Either
by rates Of assessments increasing as
the age Of the members increases, or,
by paying in the early years sum
sufficient to accumulate a reserve,
/ which, increased by interest, will
balance the deficiency
The above facts accord with an
immutable law of nature, which
every reasonable man admits.
.. lntIc AIc uut eNo way W
which the cost of insurance can be
kept in ratio with the advancing age
of members.
/ 1) Rates that increase year by
year as the member grows older.
BY this method the lighter payments
are made in the early years Of insur-
ance, the larger ones later in life.
90 Level rates, fixed at age OF
entry, with contingent reserve suf-
ficient to cover full insurance liabil.
ity. This plan oviates The yearly in
crease of'cost and equalizes the same
through probable life.
1 Either system. properly adjusted
is automatically correct. Level
rates have been adopted for our re-
versionary life policy. They are
ample enough to create and provide
reserve sufficient to meet increased
cost of insurance as the member
grows older They are, also, deemei
sufficient to enable the Association
to purchase the policy, il desired, at
end of probable life, at cash'sur-
render value, estimated at about
ree-fourths Of the sum insured.
g. The kind of policy written, the
method employed to carry out and
discharge its contracts, are in accord
with an expressed desire Of thous-
ands of business men who believe in
assessment insurance under definite
contract. aniN8slol aia8i afaisa
The method adopted provides for
six assessments per year, irrespec-
tive Of the number of deaths that may
occur during the bi-monthly period.
There are no annual or semi-annual
dues for expenses. The rates for
mulated embody three elements:
~ The mortality element. This
includes the full insurance cost al
age of entry as per American Ex-
perience Table of Mortality, which
none of the leading level premium
companies, operating under the old
system, have reached in forty years.
(2.) The expense element. The
rate allowed is sixty-eight cents from
each hi monthly call per each 81 900
insurance, which is less than one.